Chance of a Brexit deal by end of October low, chance of hard Brexit by end January up – thus sell GBP

  
Analysis, Forex

The Brexit headline to the post is the view from JP Morgan, in a nutshell

  • Says GBP is no longer as cheap
  • JPM like short GBP, particularly against CHF
  • chance of end October Brexit deal are very low
  • chance of a hard Brexit by January have increased
  • BOE Saunders’s tilt to dovish supports short GBP view
  • Add these together and “we view risks to GBP tilted to the downside”
JPMorgan stop at 1.2450
Hourly candles GBPCHF:
The Brexit headline to the post is the view from JP Morgan, in a nutshell
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